don peebles, chair monday and ceo of the peebles corporation, don was a leading fund-raiser for president obama. good to see you. >> thank you. >> a lot of drama happening in washington. let's talk about the fiscal cliff. what's your take on how this plays out? now with just a few days left in the year to get this deal done. >> i don't think they're going to come back after christmas. i think that we will see them back in early january to make a compromise. i think that comp promise is gog be in between where the president is and where the speaker is. >> you say ve go off the fiscal cliff then? >> yes, do. >> do you think we will see the economy hit recession? that was the expectation, right? >> no. that is the expectation but i don't think so. i think there's been a lot of drama, especially on the tax increase side. the tax increase side is do symbolic. at the end of the day it's not going to have any impact on the deficit or controlling our spending. what's going to have to happen is the spending cut. i think that's where the speaker was having difficulty getting support, is not being s

don peebles joining us." report, not too late to buy a last-minute gift for the kids on your list. and later charitable giving at this or any time of the year. the why and how behind the art of doing good. as we take a break, take a look at how the stock market ended the week. back in a moment. >>> so what is playing well in the 2012 holiday shopping season this time of year represents about 20% of annual retail sales, meaning tough competition for consumer attention. but my next guest hopes that leaves room for a little fun as well. jerry storch is with me. he's ceo of toys"r"us, the world's largest dedicated toy retailer. >> nice to see you. >> great to be here. >> so does all the drama over the fiscal cliff and uncertainty about the economy weigh on consumers? how are you expecting the season to play out? >> well, i don't have any doubt that it does weigh on consumers, it's in the news constantly, people are worried about it, but having said that, we're talking about christmas here. this is no minor holid

don peebles and victoria did he francesco soto. we're talking about the fiscal curb. like a ground hog day enterprise covering these negotiations but there was genuine, really significant news. there's an offer on the table. it's an offer on the table that's quite strong from the perspective of where its relative balance is towards the president's priorities as opposed to the house republican caucus's priorities. far more in name specific taxes versus the cuts. the bargaining position, rich, is here we're going to say what taxes we want to increase. you now name the cuts. i want to show some polling. one of the weirdest dynamics is where the republican dine nam mimp is and where the belt way cutting is about the entitlements that need to be fixed. you will read in the wonk world and we'll read in politico, people are floating the idea of raising the retirement age on medicare. republicans are saying it's not enough to whittle around the edges, we need changes in the eligibility. that's the red line. now go ask the american people who have just been through an election